CMA CGM Severs Ties with Hanjin

CMA CGM French shipping major CMA CGM has sent a notice of termination to South Koreas Hanjin Shipping related to each of the companys services with immediate effect. CMA CGM also said that Hanjin containers, which are already onboard on CMA CGM vessels, would be discharged to the final destination and that the company would no longer loads its containers on Hanjin Shippings vessels. Additionally, all CMA CGM containers which are currently on Hanjin vessels are being unloaded and will be transshipped onto vessels of CMA CGM and other partners. The move was made after Hanjin revealed its plans to file for court receivership amid a prolonged depression in the shipping industry. Hanjin Shipping, apart from being a member of CKYHE Alliance, is a partner of CMA CGM group on 5 out of the its 200 shipping lines.